SlideShare a Scribd company logo
1 of 2
Download to read offline
SCORE                                                                        SAS 1
                     Sponsored by U. S. Small Business Administration
 ORANGE COUNTY CHAPTER 114 - 200 W. Santa Ana Blvd., Ste. 700, Santa Ana, CA 92701, (714) 550-
                                7369, www.score114.org


                              PARTNERSHIP AGREEMENT
                                 A Planning Checklist
1. Name of the Partnership.
2. Duration of the Partnership -Number of years or "Until Dissolved".
3. Location of office.
4. Capital contribution of each Partner.
5. Whether Partners may make additional contributions.
6. The level at which Capital Accounts of the Partners must be maintained.
7. Participation of each Partner in profits and losses.
8. The amounts of any regular Drawings against profits.
9. Duties, responsibilities, and sphere of activities of each partner.
10. Amount of time to be contributed by each Partner.
11. Prohibition of outside business activities by Partners that would be
    in competition with the Partnership business.
12. Who is to be the managing Partner and whose decision will prevail in
    case of a tie or a dispute?
13. Procedure for admitting new Partners.

14. Methods of admitting Junior Partners without capital, if such a
    procedure is to be considered desirable.

15. Method of determining the value of Goodwill in the business, in case of death,
    incompetence, or withdrawal of a. Partner or dissolution of the Partnership for any
    other reason.

16. Annually determine the value of the business to serve as the legal basis in case of
    separation or death of a partner.

17. Method of liquidating the interest of deceased or retiring Partner.
18. Age of which a Partner must withdraw from active participation, and
    arrangements for adjusting his salary and equity.
19. Whether or not surviving Partners shall have the right to continue
    using the name of a deceased Partner in the Partnership Name.

20. Period of time in which retiring or withdrawing Partners may not engage in a
    competing business.

21. Basis for expulsion of a Partner, method of notification of expulsion, and the
    disposition of any losses that arise from the delinquency of such a Partner.

22. How will the event of protracted disability of a Partner be handled?


SAS-1 PARTNERSHIP CHECKLIST                                                  PAGE 1 OF 2
23. Whether the Accounts are to be kept on a Cash or Accrual basis, and if on the Cash
    basis, the method of compensating Partners who withdraw or retire for income
    realized on services rendered, but not invoiced, at the time of their withdrawal or
    retirement.

24. The Fiscal Year of the Partnership.
25. Whether or not Interest is to be paid on the debit and credit balances in the Partner's
   accounts.
26. Where the Partnership cash is to be deposited and who may sign checks.
27. Whether or not all Partners shall have access to the Books of Account.
28. Under what conditions Limited Partners may be accepted into the firm,
    and, if so. who shall be designated as the General Partner.

29. Prohibition of the Partners pledging, selling, hypothecating, or in any manner
    transferring their interest in the Partnership except to other Partners.

30. Identification of material contracts or agreement affecting liability or operation of the
    partnership.




SAS-1 PARTNERSHIP CHECKLIST                                                    PAGE 2 OF 2

More Related Content

Viewers also liked

Install SAS 9.2 presentation
Install SAS 9.2 presentationInstall SAS 9.2 presentation
Install SAS 9.2 presentationShane Gibson
 
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...Principled Technologies
 
Introduction To Sas
Introduction To SasIntroduction To Sas
Introduction To Sashalasti
 
SAS and Netezza Enzee universe presentation_20_june2011
SAS and Netezza Enzee universe presentation_20_june2011SAS and Netezza Enzee universe presentation_20_june2011
SAS and Netezza Enzee universe presentation_20_june2011Pavel Zhivulin
 
Migrating To SAS 9.2 by Bill Gibson
Migrating To SAS 9.2 by Bill GibsonMigrating To SAS 9.2 by Bill Gibson
Migrating To SAS 9.2 by Bill Gibsonsimienc
 
Netezza integration with SAS software
Netezza integration with SAS softwareNetezza integration with SAS software
Netezza integration with SAS softwarePavel Zhivulin
 
Administrative Reporting of SAS Visual Analytics 7.1 and Integration with E...
Administrative Reporting of SAS Visual Analytics 7.1  and Integration with  E...Administrative Reporting of SAS Visual Analytics 7.1  and Integration with  E...
Administrative Reporting of SAS Visual Analytics 7.1 and Integration with E...Francesco Marelli
 
SAS Analytics In Action - The New BI
SAS Analytics In Action - The New BISAS Analytics In Action - The New BI
SAS Analytics In Action - The New BISAS Canada
 
Sas visual-analytics-startup-guide
Sas visual-analytics-startup-guideSas visual-analytics-startup-guide
Sas visual-analytics-startup-guideCMR WORLD TECH
 
SAS Modernization architectures - Big Data Analytics
SAS Modernization architectures - Big Data AnalyticsSAS Modernization architectures - Big Data Analytics
SAS Modernization architectures - Big Data AnalyticsDeepak Ramanathan
 
Understanding SAS Data Step Processing
Understanding SAS Data Step ProcessingUnderstanding SAS Data Step Processing
Understanding SAS Data Step Processingguest2160992
 
Machine learning overview (with SAS software)
Machine learning overview (with SAS software)Machine learning overview (with SAS software)
Machine learning overview (with SAS software)Longhow Lam
 
Basics Of SAS Programming Language
Basics Of SAS Programming LanguageBasics Of SAS Programming Language
Basics Of SAS Programming Languageguest2160992
 

Viewers also liked (20)

Install SAS 9.2 presentation
Install SAS 9.2 presentationInstall SAS 9.2 presentation
Install SAS 9.2 presentation
 
SAS Modernization Webinar
SAS Modernization WebinarSAS Modernization Webinar
SAS Modernization Webinar
 
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...
Consolidate SAS 9.4 workloads with Intel Xeon processor E7 v3 and Intel SSD t...
 
Introduction To Sas
Introduction To SasIntroduction To Sas
Introduction To Sas
 
SAS and Netezza Enzee universe presentation_20_june2011
SAS and Netezza Enzee universe presentation_20_june2011SAS and Netezza Enzee universe presentation_20_june2011
SAS and Netezza Enzee universe presentation_20_june2011
 
Migrating To SAS 9.2 by Bill Gibson
Migrating To SAS 9.2 by Bill GibsonMigrating To SAS 9.2 by Bill Gibson
Migrating To SAS 9.2 by Bill Gibson
 
Netezza integration with SAS software
Netezza integration with SAS softwareNetezza integration with SAS software
Netezza integration with SAS software
 
Administrative Reporting of SAS Visual Analytics 7.1 and Integration with E...
Administrative Reporting of SAS Visual Analytics 7.1  and Integration with  E...Administrative Reporting of SAS Visual Analytics 7.1  and Integration with  E...
Administrative Reporting of SAS Visual Analytics 7.1 and Integration with E...
 
SAS Analytics In Action - The New BI
SAS Analytics In Action - The New BISAS Analytics In Action - The New BI
SAS Analytics In Action - The New BI
 
Sas Grid Migration and Roadmap
Sas Grid Migration and RoadmapSas Grid Migration and Roadmap
Sas Grid Migration and Roadmap
 
Proc sql tips
Proc sql tipsProc sql tips
Proc sql tips
 
Sas Presentation
Sas PresentationSas Presentation
Sas Presentation
 
SAS/Tableau integration
SAS/Tableau integrationSAS/Tableau integration
SAS/Tableau integration
 
Sas visual-analytics-startup-guide
Sas visual-analytics-startup-guideSas visual-analytics-startup-guide
Sas visual-analytics-startup-guide
 
SAS Modernization architectures - Big Data Analytics
SAS Modernization architectures - Big Data AnalyticsSAS Modernization architectures - Big Data Analytics
SAS Modernization architectures - Big Data Analytics
 
SAS Proc SQL
SAS Proc SQLSAS Proc SQL
SAS Proc SQL
 
Understanding SAS Data Step Processing
Understanding SAS Data Step ProcessingUnderstanding SAS Data Step Processing
Understanding SAS Data Step Processing
 
Sas demo
Sas demoSas demo
Sas demo
 
Machine learning overview (with SAS software)
Machine learning overview (with SAS software)Machine learning overview (with SAS software)
Machine learning overview (with SAS software)
 
Basics Of SAS Programming Language
Basics Of SAS Programming LanguageBasics Of SAS Programming Language
Basics Of SAS Programming Language
 

Similar to Partnership checklist

Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docx
Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docxEntity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docx
Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docxSALU18
 
solusi manual advanced acc zy Chap015
solusi manual advanced acc zy Chap015solusi manual advanced acc zy Chap015
solusi manual advanced acc zy Chap015Suzie Lestari
 
Fudamentals of partnership
Fudamentals of partnershipFudamentals of partnership
Fudamentals of partnershipNavratan Sharma
 
Solution Manual Advanced Accounting Chapter 15 9th Edition by Baker
Solution Manual Advanced Accounting Chapter 15 9th Edition by BakerSolution Manual Advanced Accounting Chapter 15 9th Edition by Baker
Solution Manual Advanced Accounting Chapter 15 9th Edition by BakerSaskia Ahmad
 
ENT300 Assignment (Chelyu One Stop)
ENT300 Assignment (Chelyu One Stop)ENT300 Assignment (Chelyu One Stop)
ENT300 Assignment (Chelyu One Stop)Adlina Zainuri
 
Intoduction to Business - Chapter Three.pptx
Intoduction to Business - Chapter Three.pptxIntoduction to Business - Chapter Three.pptx
Intoduction to Business - Chapter Three.pptxTariqRehmani3
 
Dissolution of partnerships
Dissolution of partnershipsDissolution of partnerships
Dissolution of partnershipsGuerillateacher
 
Lec-5 Partnership.pptx
Lec-5 Partnership.pptxLec-5 Partnership.pptx
Lec-5 Partnership.pptxNimraIqbal28
 
SBA Mentor/Protege program (mp)
SBA Mentor/Protege program (mp)SBA Mentor/Protege program (mp)
SBA Mentor/Protege program (mp)mikepope
 
Topic 8 -_partnership_part_i
Topic 8 -_partnership_part_iTopic 8 -_partnership_part_i
Topic 8 -_partnership_part_ikim rae KI
 
Accounting standards an overview
Accounting standards an overviewAccounting standards an overview
Accounting standards an overviewMegha Dawda
 
Organizational Plan
Organizational PlanOrganizational Plan
Organizational Planboka manush
 
Lesson 23 Mega Firm - Company law- By Dipti Dhakul
Lesson 23 Mega Firm - Company law- By Dipti DhakulLesson 23 Mega Firm - Company law- By Dipti Dhakul
Lesson 23 Mega Firm - Company law- By Dipti DhakulDipti Dhakul
 
Singapore General partnership
Singapore General partnershipSingapore General partnership
Singapore General partnershipRikvin Pte Ltd
 

Similar to Partnership checklist (20)

NWIP_201611_ADV2a
NWIP_201611_ADV2aNWIP_201611_ADV2a
NWIP_201611_ADV2a
 
Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docx
Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docxEntity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docx
Entity InformationEntity TypePartnershipSub-Entity TypeGeneralEn.docx
 
solusi manual advanced acc zy Chap015
solusi manual advanced acc zy Chap015solusi manual advanced acc zy Chap015
solusi manual advanced acc zy Chap015
 
Fudamentals of partnership
Fudamentals of partnershipFudamentals of partnership
Fudamentals of partnership
 
Solution Manual Advanced Accounting Chapter 15 9th Edition by Baker
Solution Manual Advanced Accounting Chapter 15 9th Edition by BakerSolution Manual Advanced Accounting Chapter 15 9th Edition by Baker
Solution Manual Advanced Accounting Chapter 15 9th Edition by Baker
 
ENT300 Assignment (Chelyu One Stop)
ENT300 Assignment (Chelyu One Stop)ENT300 Assignment (Chelyu One Stop)
ENT300 Assignment (Chelyu One Stop)
 
Intoduction to Business - Chapter Three.pptx
Intoduction to Business - Chapter Three.pptxIntoduction to Business - Chapter Three.pptx
Intoduction to Business - Chapter Three.pptx
 
Partnership deed
Partnership deedPartnership deed
Partnership deed
 
5
55
5
 
Dissolution of partnerships
Dissolution of partnershipsDissolution of partnerships
Dissolution of partnerships
 
Lec-5 Partnership.pptx
Lec-5 Partnership.pptxLec-5 Partnership.pptx
Lec-5 Partnership.pptx
 
SBA Mentor/Protege program (mp)
SBA Mentor/Protege program (mp)SBA Mentor/Protege program (mp)
SBA Mentor/Protege program (mp)
 
Topic 8 -_partnership_part_i
Topic 8 -_partnership_part_iTopic 8 -_partnership_part_i
Topic 8 -_partnership_part_i
 
Accounting standards an overview
Accounting standards an overviewAccounting standards an overview
Accounting standards an overview
 
Organizational Plan
Organizational PlanOrganizational Plan
Organizational Plan
 
Partnership Reviewer
Partnership ReviewerPartnership Reviewer
Partnership Reviewer
 
Lesson 23 Mega Firm - Company law- By Dipti Dhakul
Lesson 23 Mega Firm - Company law- By Dipti DhakulLesson 23 Mega Firm - Company law- By Dipti Dhakul
Lesson 23 Mega Firm - Company law- By Dipti Dhakul
 
Singapore General partnership
Singapore General partnershipSingapore General partnership
Singapore General partnership
 
Singapore Partnership
Singapore PartnershipSingapore Partnership
Singapore Partnership
 
Singapore Partnership
Singapore PartnershipSingapore Partnership
Singapore Partnership
 

Partnership checklist

  • 1. SCORE SAS 1 Sponsored by U. S. Small Business Administration ORANGE COUNTY CHAPTER 114 - 200 W. Santa Ana Blvd., Ste. 700, Santa Ana, CA 92701, (714) 550- 7369, www.score114.org PARTNERSHIP AGREEMENT A Planning Checklist 1. Name of the Partnership. 2. Duration of the Partnership -Number of years or "Until Dissolved". 3. Location of office. 4. Capital contribution of each Partner. 5. Whether Partners may make additional contributions. 6. The level at which Capital Accounts of the Partners must be maintained. 7. Participation of each Partner in profits and losses. 8. The amounts of any regular Drawings against profits. 9. Duties, responsibilities, and sphere of activities of each partner. 10. Amount of time to be contributed by each Partner. 11. Prohibition of outside business activities by Partners that would be in competition with the Partnership business. 12. Who is to be the managing Partner and whose decision will prevail in case of a tie or a dispute? 13. Procedure for admitting new Partners. 14. Methods of admitting Junior Partners without capital, if such a procedure is to be considered desirable. 15. Method of determining the value of Goodwill in the business, in case of death, incompetence, or withdrawal of a. Partner or dissolution of the Partnership for any other reason. 16. Annually determine the value of the business to serve as the legal basis in case of separation or death of a partner. 17. Method of liquidating the interest of deceased or retiring Partner. 18. Age of which a Partner must withdraw from active participation, and arrangements for adjusting his salary and equity. 19. Whether or not surviving Partners shall have the right to continue using the name of a deceased Partner in the Partnership Name. 20. Period of time in which retiring or withdrawing Partners may not engage in a competing business. 21. Basis for expulsion of a Partner, method of notification of expulsion, and the disposition of any losses that arise from the delinquency of such a Partner. 22. How will the event of protracted disability of a Partner be handled? SAS-1 PARTNERSHIP CHECKLIST PAGE 1 OF 2
  • 2. 23. Whether the Accounts are to be kept on a Cash or Accrual basis, and if on the Cash basis, the method of compensating Partners who withdraw or retire for income realized on services rendered, but not invoiced, at the time of their withdrawal or retirement. 24. The Fiscal Year of the Partnership. 25. Whether or not Interest is to be paid on the debit and credit balances in the Partner's accounts. 26. Where the Partnership cash is to be deposited and who may sign checks. 27. Whether or not all Partners shall have access to the Books of Account. 28. Under what conditions Limited Partners may be accepted into the firm, and, if so. who shall be designated as the General Partner. 29. Prohibition of the Partners pledging, selling, hypothecating, or in any manner transferring their interest in the Partnership except to other Partners. 30. Identification of material contracts or agreement affecting liability or operation of the partnership. SAS-1 PARTNERSHIP CHECKLIST PAGE 2 OF 2